For those of you that follow politics and the economy, read the following and try to explain how the Obama recovery plan that is apparently modeled after Japan will work to the benefit of U.S. citizens.
…Japan’s economy grow anemically over that decade, but as the nearby chart shows, its national debt exploded. Only in this decade, with a monetary reflation and Prime Minister Junichiro Koizumi’s decision to privatize state assets and force banks to acknowledge their bad debts, did the economy recover.
Yet recent governments have rolled back Mr. Koizumi’s reforms and returned to their spending habits. But Japan does have better roads. Now we’re told that a similar spending program – a new New Deal – will revive the U.S. economy. How do you say “good luck” in Japanese?
I didn’t vote for him!! Did you?? I don’t need to read the article to know it is a garbage plan.
Secondly, this was on his agenda and part of his crap rhetoric when campaigning. When the government (A.K.A. Obama) institutes this farce they are not going to be workers being payed by the government, whether it is federal, state or local government. Instead they will be workers hired by private contracting firms who perform these projects. After all it will be faster and easier to contract them out rather than create a whole new workforce to do it. Look around at your construction laborers now and what do you see? How many of these laborers are here legally? So what will he, Obama, wind up doing? He will wind up supporting illegal aliens who will spend little here and send a lot back to their native countries. How is that going to help the American citizens and legal immigrants here in the U.S.??
The production of the severe depression that we are headed for was created during the eight year period immediately prior to his election. What he must do to divert or lessen the severity of it deserves support and I am providing it.
Sore losers wishing to sabotage him are making themselves obvious and I wish not to be a part of their efforts…or to engage them in further conversation on the topic.
James, Though Bush certainly bears a good deal of the responsibility for the mess we are in, the new game in town has a real opportunity to get it right.
Too bad he is repeating the mistakes of others.(Japan, FDR)
I hope I am wrong but Obama continues to speak with eloquence without saying much substantive.
His actions and the results are what we will have to judge him on.
His proposals don’t look to be the ones that will bring about real change or a meaningful recovery.
You try to claim I am a sore looser when I think McCain wasn’t really much better.
I want Obama to succeed but it’s not looking good.
I’m sure the adoring press will write glowing stories but will they be based in reality or mimic those of the “great leader” in North Korea?
Michael, it matters not if he fails, as JB just proved, it will simply be blamed on Bush for the next thirty years. Besides, JB voted for him, therefore his ego will never allow him to agree with you.
It seems from reading the article and the comments in the forum attached to the article, the mistake is listening to the pundits at the Wall Street Journal.
What a bunch of dumb asses.
Where were they as the deregulated free market drove us into the ditch? Where were they as we spent untold (and un accounted for) billions in Iraq?
Micheal, isn’t there some right wing idiot message board you could post on?
I think the congress (mainly Republican, until very recently) had a lot of blame, too. I voted for those guys, too.
It dawned on me early in the campaign of how unlikely it is to expect the same mental midgets who got us in the hole to figure a way out. So, I voted those out that I could and supported replacing them with new people and new ideas.
Colin Powell agrees with me…and even John McCain, in a recent interview, said that he was unsure of supporting Sarah Palin for a run for President.
Hopefully, more and more Republicans will let loose of the millstone and come up for some fresh air and fresh ideas.
